Updated Dec 4, 2024
Alex Svetlakou Facilitates $8M Sale Of Development Site In Sheepshead Bay, Brooklyn
1667 Sheepshead Bay Road
$8,000,000
$800/SF
Building Size
10,000 SF
Asset Type
Development Site
Closing
May 7, 2024
About this deal
AI
The development site located at 1667 Sheepshead Bay Road in Sheepshead Bay, Brooklyn, was recently sold for $8,000,000. Spanning 10,000 square feet, the property was sold at a price per square foot of $800.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Address: 1667 Sheepshead Bay Road
- Market: Sheepshead Bay, Brooklyn
- Square Footage: 10,000
- Broker: Alex Svetlakou - Ripco
Alex Svetlakou from Ripco facilitated the transaction as the broker representing the parties involved in the sale of the development site.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93